Common use of Consent Judgment Clause in Contracts

Consent Judgment. 2.1. Within one (1) business day after the date of signature of the last Party to sign this Settlement Agreement (the “Signing Date”), and earlier if possible, and subject to the confidentiality provisions of Section 10.1, counsel for the Parties shall execute a “Consent Judgment” providing for the terms of a consent judgment and stipulated dismissal of the Action, in the form attached hereto as Exhibit A, and shall file it in the United States District Court for the District of Delaware (the “District Court”) in the Action. 2.2. If for any reason the District Court raises an objection to the Consent Judgment as drafted or requires that the Parties modify the Consent Judgment before it will enter it as an order of the District Court, or if after ten (10) business days the District Court has otherwise failed to enter the Consent Judgment, the Parties agree to confer promptly and in good faith in order to take action consistent with this Settlement Agreement to secure entry of the Consent Judgment as drafted, or to agree upon modifications to the Consent Judgment, or to take such other action consistent with this Settlement Agreement to secure entry of the Consent Judgment as drafted or with agreed-upon modifications; provided, however, that nothing contained herein shall be deemed to require a Party to agree to a modification of the Settlement Agreement or Consent Judgment that materially affects the benefits to be obtained by, or burdens imposed upon, such Party under this Settlement Agreement as originally executed. If, after forty-five (45) calendar days have elapsed from the date on which the Consent Judgment was filed, such efforts have failed to secure entry of the Consent Judgment as originally filed or with agreed-upon modifications, notwithstanding anything herein to the contrary, this Settlement Agreement shall be null and void and have no further legal effect, save for Sections 10.1, 10.4, 10.9, 10.12, and 10.14, which shall continue in full force and effect. 2.3. The date on which the Consent Judgment is entered by the District Court, whether with or without modification as provided for in Section 2.2, shall be the “Effective Date” of this Settlement Agreement. Notwithstanding anything herein to the contrary, the provisions of Articles 1, 2, 8, and 9 and Sections 10.1, 10.3, 10.4, and 10.6 through 10.14 shall become effective upon the Signing Date.

Consent Judgment. 2.1. Within one (1) business day after the date of signature of the last Party to sign this Settlement Agreement (the “Signing Date”), and earlier if possible, and subject to the confidentiality provisions of Section 10.1, counsel for the Parties shall execute a “Consent Judgment” providing for the terms of a consent judgment and stipulated dismissal of the Action, in the form attached hereto as Exhibit A, and shall file it in the United States District Court for the District of Delaware (the “District Court”) in the Action. 2.2. If for any reason the District Court raises an objection to the Consent Judgment as drafted or requires that the Parties modify the Consent Judgment before it will enter it as an order of the District Court, or if after ten (10) business days the District Court has otherwise failed to enter the Consent Judgment, the Parties agree to confer promptly and in good faith in order to take action consistent with this Settlement Agreement to secure entry of the Consent Judgment as drafted, or to agree upon modifications to the Consent Judgment, or to take such other action consistent with this Settlement Agreement to secure entry of the Consent Judgment as drafted or with agreed-upon modifications; provided, however, that nothing contained herein shall be deemed to require a Party to agree to a modification of the Settlement Agreement or Consent Judgment that materially affects the benefits to be obtained by, or burdens imposed upon, such Party under this Settlement Agreement as originally executed. If, after forty-five (45) calendar days have elapsed from the date on which the Consent Judgment was filed, such efforts have failed to secure entry of the Consent Judgment as originally filed or with agreed-upon modifications, notwithstanding anything herein to the contrary, this Settlement Agreement shall be null and void and have no further legal effect, save for Sections 10.1, 10.4, 10.9, 10.12, and 10.14Article 10 , which shall continue in full force and effect. 2.3. The date on which the Consent Judgment is entered by the District Court, whether with or without modification as provided for in Section 2.2, shall be the “Effective Date” of this Settlement Agreement. Notwithstanding anything herein to the contrary, the provisions of Articles 1, 2, 8, and 9 and Sections 10.1, 10.3, 10.4, and 10.6 through 10.14 10 shall become effective upon the Signing Date.

Consent Judgment. 2.1. Within one (1) business day after Xxxx and Capital Center shall each, concurrent with the date execution of signature of the last Party to sign this Settlement Agreement (the “Signing Date”)Agreement, and earlier if possible, and subject to the confidentiality provisions of Section 10.1, counsel for the Parties shall execute a “Consent Judgment” providing for the terms of a consent judgment and stipulated dismissal of the Action, in the form attached hereto as Exhibit A, and shall file it in the United States District Court for the District of Delaware (the “District Court”) in the Action. 2.2. If for any reason the District Court raises an objection to the Consent Judgment as drafted or requires that the Parties modify the Consent Judgment before it will enter it as an order of the District Court, or if after ten (10) business days the District Court has otherwise failed to enter the Consent Judgment, the Parties agree forms of which are attached to confer promptly the Settlement Order in the Guaranty Litigation (referenced in Section 11 and which Order is attached as Exhibit 2) (“Xxxx Consent Judgment”) and attached to the Settlement Order in the Foreclosure Litigation (referenced in Section 11 and which Order is as Exhibit 3) (“Capital Center Consent Judgment”). The Xxxx Consent Judgment and the Capital Center Consent Judgment shall collectively be referred to in this Agreement as “Consent Judgments”. If the Settlement Amount is paid in full to American on or before September 1, 2006, then Xxxx and Capital Center shall have no further liability. However, if the Settlement Amount is not paid in full to American on or before September 1, 2006, as stated in the Consent Judgments, Xxxx and Capital Center shall owe the Default Amount, except in the event of an Insolvency Event, in which case Xxxx and Capital Center shall owe the Insolvency Event Amount made part of the Bankruptcy Amount. American will not file or record the Consent Judgments until on or after September 2, 2006, or until the date after the right to cure ends following a Material Breach, whichever occurs first, at which time American may file the Consent Judgments by ex parte application to the Xxxxxx County Circuit Court. Said Consent Judgments shall be final and nonappealable. Upon entry of the Consent Judgment(s), American may record and enforce the Consent Judgment(s) in the manner and to the extent allowed by law. Notwithstanding the foregoing to the contrary, in the event the parties are diligently and in good faith performing their obligations under this Agreement, American may, in order to take action consistent with this Settlement Agreement to secure entry of its sole discretion, forbear from filing the Consent Judgment as drafted, or to agree upon modifications to the Consent Judgment, or to take such other action consistent with this Settlement Agreement to secure entry of the Consent Judgment as drafted or with agreed-upon modifications; provided, however, that nothing contained herein shall be deemed to require a Party to agree to a modification of the Settlement Agreement or Consent Judgment that materially affects the benefits to be obtained by, or burdens imposed upon, such Party under this Settlement Agreement as originally executed. If, after forty-five (45) calendar days have elapsed from the date on which the Consent Judgment was filed, such efforts have failed to secure entry of the Consent Judgment as originally filed or with agreed-upon modifications, notwithstanding anything herein to the contrary, this Settlement Agreement shall be null and void and have no further legal effect, save for Sections 10.1, 10.4, 10.9, 10.12, and 10.14Judgment(s), which shall continue in full force and effect. 2.3. The date on which the Consent Judgment is entered by the District Courtforbearance may be suspended, whether with or without modification as provided for notice by American in Section 2.2, shall be the “Effective Date” of this Settlement Agreement. Notwithstanding anything herein to the contrary, the provisions of Articles 1, 2, 8, and 9 and Sections 10.1, 10.3, 10.4, and 10.6 through 10.14 shall become effective upon the Signing Dateits sole discretion.

Consent Judgment. 2.1. Within one As soon as practicable but in any event no more than three (13) business day Business Days after the date of signature of the last Party to sign this Settlement Agreement (such date, the “Signing Date”), and earlier if possible, and subject to the confidentiality provisions of Section 10.18.1, counsel for the Litigation Parties shall execute a “Consent Judgment” providing for the terms of a consent judgment and stipulated dismissal of the Action, in the form attached hereto as Exhibit A, A and shall file it in the United States District Court for the District of Delaware (the “District Court”) in the Action. 2.2. If for any reason the District Court raises an objection to the Consent Judgment as drafted set forth in Exhibit A or requires that the Litigation Parties modify the Consent Judgment before it will enter it as an order of the District Courtcourt, or if after ten (10) business days Business Days the District Court has otherwise failed to enter the Consent JudgmentJudgment as an order of the court, the Parties agree to confer promptly and in good faith in order and to take action consistent with this Settlement Agreement use commercially reasonable efforts to secure entry of modify the Consent Judgment as drafted, or to agree upon modifications to the Consent Judgment, or to take such other action consistent with this Settlement Agreement and the Ancillary Agreements as is required to secure entry of the Consent Judgment as drafted or with agreed-upon modifications; provided, however, that nothing contained herein shall be deemed to require a Party to agree to a modification of the Settlement Agreement or Consent Judgment that materially affects the benefits to be obtained by, or burdens imposed upon, . If such Party under this Settlement Agreement as originally executed. If, after forty-five (45) calendar days have elapsed from the date on which the Consent Judgment was filed, such commercially reasonable efforts have failed to secure entry of the Consent Judgment as originally within the thirty (30) Business Days following the date on which the Consent Judgment is filed or with agreed-upon modificationsthe District Court, then, notwithstanding anything herein to the contrary, this Settlement Agreement shall be null and void and have no further legal effect, save for Sections 10.1Section 6.1(a), 10.4(b), 10.9(c) and (d), 10.12Article 7, and 10.14all of Article 8 except Section 8.11, each of which provisions shall continue in full force and effect. 2.3. The date on which the Consent Judgment is entered by the District Court, whether with or without modification as provided for in Section 2.2, shall be the “Effective Consent Judgment Entry Date” of this Settlement Agreement. Notwithstanding anything herein to the contrary, the provisions of Articles 1, 2, 8, and 9 and Sections 10.1, 10.3, 10.4, and 10.6 through 10.14 shall become effective upon the Signing Date”.